Fred. Olsen Windcarrier Reels In $90,5M in New Contracts

OE Staff
Wednesday, January 5, 2022

Offshore wind installation firm Fred. Olsen Windcarrier (FOWIC) said Tuesday it had recently executed three new contracts and reservation agreements with combined revenue of up to 80 million euros (~$90,5 million).

The contracts, with undisclosed clients, will cover around 300 days in 2022 and 200 days in 2023, in both Europe and the Asia Pacific.

Two contracts are linked to projects where Fred. Olsen Windcarrier is already involved.  

Following these new contracts, FOWIC’s total revenue backlog stands at around 355 million euros (~$401,8 million) of which 18% is linked to options. 

The yearly distribution of the backlog is 152 million euros in 2022,126 million euros in 2023, and 77 million euros in 2024.

Also, as reported Tuesday, FOWIC placed a firm order for a new 1600t crane for the Brave Tern jack-up unit upgrade.

The installation on the vessel is expected to be completed in 2024.  Separately,  ongoing installation and upgrade work on Bold Tern at  Keppel Fels is progressing according to plan and budget. 

"The upgrade program will secure the continued strong competitiveness of FOWIC’s three existing vessels also for the next generations of turbines coming to the market," FOWIC said.

Categories: Offshore Vessels Industry News Offshore Wind Activity Europe Asia

Related Stories

One Shelf Drilling Rig Up for New Job in India, Other for Disposal

PTTEP Hires Velesto’s Jack-Up Rig for Drilling Campaign off Malaysia

Yinson Production Secures $1.17B Refinancing for FPSO Maria Quitéria

Centrica and Thailand’s PTT Ink Long-Term LNG Supply Deal

Petrovietnam, Partners Sign PSC for Block Off Vietnam

UK Firm Secures Exploration Extension for Two Blocks off Vietnam

BP Expands Oil and Gas Scope in Azerbaijan with New Projects and Exploration Rights

TPAO, SOCAR and BP to Ink Caspian Sea Oil and Gas Production Deal

EnQuest Bags Two Production Sharing Contracts off Indonesia

VARD Snags $125M Shipbuilding Deal for Subsea Construction Vessel

Current News

Santos and QatarEnergy Agree Mid-Term LNG Supply

PTTEP Hires Energy Drilling’s Rig for Southeast Asia Offshore Job

One Shelf Drilling Rig Up for New Job in India, Other for Disposal

Four Jack-Up Drilling Rig Deals Set to Bring In $129M for Borr Drilling

PTTEP Hires Velesto’s Jack-Up Rig for Drilling Campaign off Malaysia

Yinson Production Secures $1.17B Refinancing for FPSO Maria Quitéria

Centrica and Thailand’s PTT Ink Long-Term LNG Supply Deal

Petrovietnam, Partners Sign PSC for Block Off Vietnam

Japan Protests China’s New Oil and Gas Construction Activities in East China Sea

CNOOC Signs Hydrocarbons Exploration and Production Deal with Kazakhstan

Subscribe for AOG Digital E‑News

AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

https://accounts.newwavemedia.com